just a couple of months ago, Muhammad Yunus won the Nobel Peace Prize for his microfinancing project in Bangladesh. i hope he's using a good portion of the money that came with his prize to continue his work. it's a simple concept really, you cut the middle man, and lend directly to the person who needs the loan. it doesn't have to be a substantial amount, because really, take into account inflation and exchange rates, the amount needed to start a business in an impoverished country is little more than the amount it costs an average college kid buying textbooks for the quarter/semester. and i speak from experience (not necessarily mine). at the bookstore, this poor girl came to me with three textbooks, for two classes, and her bill came up to US$500! so anyway..i digressed.
now, some really clever people decided to use the far-reaching internet to raise money to microfinance businesses. you don't have to give too much money. it starts from US$25. and it's a loan, you'll eventually get the money back when the business you financed makes money. it's a risk, given it's an internet service. but it lifts my mood to think for $25, i might contribute to a family's efforts to feed themselves, and put the children through school. it's true, you can give them money to start their business, and due to their incompetence or circumstantial difficulties, they may never make money. but the websites (i've checked) don't hope to help everyone who comes knocking on their doors. they try to reach women, primarily to empower them in societies where they are worth less than a shadow. and hey, women just are more responsible. when the mothering instinct kicks in, i believe a woman will do everything within her powers to ensure her child is fed and clothed. (most women anyway.) we have to realise that a person living in poverty has very different demands and needs from ourselves. besides, i do believe a requirement to obtain microfinances is a sound business plan.
so, the new york times featured a piece about these online opportunities to do some good. i wish i could link you to the article, but the NY times is pretty big and affluent, and if i tried to link them without prior permission, they might sue me for my last $25. since i'm not american, i'm not protected by the first amendment (free speech). again, i digressed, i'm feeling a little chatty tonight.
here are the relevant sites..the first carries a link to the NY times article i was talking about, and primarily asks for loans. you'll get your money back. the second link will take you to a site to donate the money for mircrofinancing a business, as opposed to loaning the money.
